Now using the information on input prices also mr, Ask an Expert

Economics

Q. Given the following production function:

Q= 30X + 2XY -.5X2 - .5Y2

where Q is output also X also Y are inputs also Px=$25.00 every unit also Py=$40.00 every units also MR= $ .50

A. Assuming you ONLY have the production also not the input prices or MR, Illustrate what is the slope of the isoquant given X on the vertical axis also Y on the horizontal axis.

B. Now using the information on input prices also MR, Illustrate what is the optimal input combination?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9160799

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